MGM Reaffirms Commitment to City of Yonkers Through Volunteering

A couple of months ago, MGM Resorts abruptly pulled away its casino bid for Yonkers in New York, much to the surprise of everyone involved. However, the company said that it will still be invested in the region through community grants and volunteering.

Why Did MGM Pull Out of Yonkers In the First Place?

Last year, MGM had proposed a $2.3 billion redevelopment of Empire City, a casino featuring a 138,000-square-foot gaming floor with roughly 4,500 slot-style video lottery terminals and electronic table games. However, the company later determined that shifting competitive and economic assumptions had made the expansion no longer viable. 

By October, MGM had already withdrawn its application for slot machines, live-dealer table games, and sports betting privileges – three areas in which the company is already heavily involved in. MGM’s departure from the license talks was so sudden that New York State Senator Joseph P. Addabbo Jr. asked the Gaming Facility Location Board to speed up the process of awarding licenses to the other applicants. The reason for this urgency was the fear that other companies, a.k.a. potential investors, would follow MGM’s lead and pull away from Yonkers.

MGM described the withdrawal as a “difficult decision,” noting that its investment had been based on the expectation of a 30-year casino license. However, state officials said last year that the initial licenses would be limited to 15 years. According to a statement by the company, such being the case, this did not further align with the financial goals of MGM or VICI, which are the gaming company’s real estate partners in Yonkers.

MGM Will Still Invest in the Region

Despite MGM scrapping its plans for a new casino in Yonkers, the company said that it would still be involved in the community. MGM Resorts said it has been a long-standing partner of the City of Yonkers and New York State since acquiring Empire City Casino in 2019. 

Many of the company’s Empire City Casino employees also volunteered in a range of local nonprofit organizations last year. In addition, the casino contributed endowments and financial support to charities throughout Westchester County, including Yonkers and Mount Vernon, as well as in the neighboring Bronx. The company noted that the property has generated more than $5 billion for state education, including $1.6 billion during MGM’s ownership. 

As reported by the Bronx Times, Empire City Casino president and chief operating officer Louis Theros said that creating meaningful social impact and strengthening communities is central to the casino’s mission in New York. He added that, as colleagues, neighbors, and friends, the company’s commitment has continued to deepen as employees go above and beyond to support their communities, and that Empire City looks forward to remaining a steward of community development.